XPost: soc.culture.canada, can.general, can.politics 
 XPost: soc.culture.quebec 
 From: abc@a123.ca 
  
 Moody€s deems Canada €better than most other top-rated sovereigns€ 
  
 Barbara Shecter | Aug 16, 2012 
  
 Rogerio Barbosa/AFP/Getty Images In a glowing report released Thursday, 
 Moody's Investors Service says Canada's triple-A rating is supported by 
 the country's economic performance and government financial position that 
 have held up to the effects of the global recession "better than most 
 other top-rated sovereigns." 
  
  
 Canada might want to ignore recent criticism about the work of credit 
 ratings agencies. 
  
 In a glowing report released Thursday, Moody€s Investors Service says 
 Canada€s triple-A rating is supported by the country€s economic 
 performance and government financial position that have held up to the 
 effects of the global recession €better than most other top-rated 
 sovereigns.€ 
  
 Furthermore, Moody€s says in the annual report out of the New York, 
 €Canada did not experience a financial crisis such as the one that 
 affected the U.S. and a number of European countries.€ 
  
 The ratings agency notes that the recession did reverse an earlier 
 improvement in debt ratios, but reasons that they are improving and did 
 not deteriorate as much as in most other triple-A-rated countries. 
  
 On the housing market, which, along with high household debt, is raising 
 concerns in some quarters, Moody€s €considers risk € to be manageable in 
 terms of its potential effect on federal finances.€ 
  
 Related 
 Angela Merkel touts Canada as example for crisis-ridden eurozone 
  
 Moody€s rated Canada€s economic resiliency and government financial 
 strength as €very high€ and said the country has a €low susceptibility to 
 event risk.€ 
  
 The economy€s resiliency is demonstrated by very high per capita income, 
 the large scale of the economy, and its diversity, featuring natural 
 resource industries, a competitive manufacturing sector, and a well- 
 developed financial and real estate market, the ratings agency said. 
  
 Canada ranks 11th out of 113 sovereigns rated by Moody€s in terms of the 
 size of its economy and 14th out of 109 countries in terms of its GDP per 
 capita. 
  
 €On the public finance front, Canada€s ratios of general government debt 
 to GDP and to revenue moved significantly downward over the decade 
 through 2008,€ says the Moody€s report. €In facing the global crisis, the 
 federal government€s balance sheet started from a strong position.€ 
  
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